Litecoin LTC/USD is trading at 116. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the 125 level, from which it is expected to rebound and attempt to continue falling LTC/USD with a target below 95.
Litecoin forecast & analysis LTC/USD April 9, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» reversal model. Earlier, a medium strength signal was obtained for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 119.
Cancellation of the Litecoin fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 130, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of LTC/USD quotes growth with the breakdown of the support area and the closing below the level of 110.
